BNP Paribas Financial Markets Acquires 10,143 Shares of Brookfield Renewable Partners L.P. (NYSE:BEP)

BNP Paribas Financial Markets boosted its holdings in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 609.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,808 shares of the utilities provider’s stock after buying an additional 10,143 shares during the period. BNP Paribas Financial Markets’ holdings in Brookfield Renewable Partners were worth $333,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of BEP. Intact Investment Management Inc. purchased a new stake in shares of Brookfield Renewable Partners in the third quarter worth about $42,331,000. Triasima Portfolio Management inc. purchased a new stake in Brookfield Renewable Partners in the 2nd quarter worth approximately $16,936,000. Liontrust Investment Partners LLP purchased a new stake in Brookfield Renewable Partners in the 2nd quarter worth approximately $14,862,000. Principal Financial Group Inc. boosted its holdings in Brookfield Renewable Partners by 4.5% in the 3rd quarter. Principal Financial Group Inc. now owns 7,605,679 shares of the utilities provider’s stock valued at $214,328,000 after purchasing an additional 330,648 shares during the period. Finally, Mirabella Financial Services LLP grew its position in shares of Brookfield Renewable Partners by 145.2% during the 3rd quarter. Mirabella Financial Services LLP now owns 466,736 shares of the utilities provider’s stock valued at $13,153,000 after purchasing an additional 276,374 shares in the last quarter. Institutional investors own 63.16% of the company’s stock.

Analyst Upgrades and Downgrades

BEP has been the topic of a number of recent analyst reports. UBS Group upgraded Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $24.00 to $31.00 in a research report on Monday, September 30th. CIBC upped their target price on Brookfield Renewable Partners from $33.00 to $34.00 and gave the stock an “outperformer” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. upgraded Brookfield Renewable Partners from a “neutral” rating to an “overweight” rating and set a $30.00 price target for the company in a research report on Thursday. StockNews.com upgraded shares of Brookfield Renewable Partners from a “sell” rating to a “hold” rating in a research report on Monday, December 9th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $31.00 target price on shares of Brookfield Renewable Partners in a research note on Wednesday, October 9th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Brookfield Renewable Partners currently has an average rating of “Buy” and an average price target of $31.89.

Brookfield Renewable Partners Stock Performance

Shares of NYSE BEP opened at $23.79 on Monday. The stock has a market cap of $6.78 billion, a price-to-earnings ratio of -29.01 and a beta of 0.93. The stock’s 50-day moving average is $25.93 and its 200 day moving average is $25.64. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.93. Brookfield Renewable Partners L.P. has a 1-year low of $19.92 and a 1-year high of $29.56.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings results on Friday, November 8th. The utilities provider reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.28). Brookfield Renewable Partners had a return on equity of 0.24% and a net margin of 1.16%. The business had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $843.18 million. During the same period last year, the business posted ($0.14) earnings per share. On average, sell-side analysts anticipate that Brookfield Renewable Partners L.P. will post -0.88 EPS for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be given a dividend of $0.355 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.42 annualized dividend and a yield of 5.97%. Brookfield Renewable Partners’s payout ratio is -173.17%.

About Brookfield Renewable Partners

Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities primarily in North America, Colombia, and Brazil. The company generates electricity through hydroelectric, wind, solar, distributed generation, and pumped storage, as well as renewable natural gas, carbon capture and storage, recycling, cogeneration biomass, nuclear services, and power transformation.